Conventionally, a crystal structure of ∈-Fe2O3 is known which is a nano-order particle and which is a material that develops large coercive force of 20 kOe under a room temperature condition (see, for example, non-patent literature 1, non-patent literature 2, and non-patent literature 3).
∈-Fe2O3 which has insulation properties and which serves as a permanent magnet is produced by calcinating a precursor at a temperature of substantially 1000° C. Hence, in order to produce a magnetic material like a magnetic film having a crystal structure of ∈-Fe2O3, a production method of producing a coating liquid of ∈-Fe2O3 particles produced through a calcination process together with a predetermined binder component, and applying such a liquid to a film formation target like a film or a production method of dispersing ∈-Fe2O3 particles in a melted or dissolved thermoplastic resin or thermosetting resin, and producing the magnetic material by a formation technique, such as extrusion or injection molding is used.